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Benzinga
Benzinga
Business
Anusuya Lahiri

Qualcomm Finds Way To JPMorgan's Analyst Focus List

  • JPMorgan analyst Samik Chatterjee added Qualcomm Inc (NASDAQ:QCOM) to the firm's Analyst Focus List.
  • Chatterjee cited easing supply and benefits of diversification "should lead to both earnings upside and rerating." 
  • He keeps an Overweight rating on the shares with a $225 price target, implying a 20% upside.
  • Qualcomm recently went through multiple updates.
  • The chipmaker split its Snapdragon brand into a "standalone product brand with specific ties to the Qualcomm brand where appropriate."
  • Noted client Apple Inc (NASDAQ:AAPL) shifted loyalties to Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM) to manufacture 5G iPhone modems from 2023.
  • The chipmaker lost its AI chip chief to a startup.
  • Related Content: Analysts Bump Up Qualcomm Price Targets Post Analyst Day
  • Price Action: QCOM shares traded higher by 2.26% at $188.03 on the last check Monday.
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